ICICI Prudential Life Insurance announces the launch of the Company’s first unit-linked product (ULIP) – ICICI Pru Platinum, which aligns distributor payouts to their customers’ fund value – the distributor commissions are linked to their customers’ Assets under Management. This unique product incentivises distributors to encourage their customers to stay invested for the entire policy tenure. Notably, it offers customers a cost and tax-efficient route to build wealth over the long-term.
Unlimited free switching between asset classes is available through ICICI Pru Platinum, with no additional fees or tax implications. Customers can choose from an array of 21 funds under this product, comprising 13 equity and four each in the debt and balanced categories, besides offering an option of four portfolio strategies.
ICICI Pru Platinum offers two life cover variants: Growth Plus, which grants the nominee the sum assured or fund value, and Protect Plus, which provides both the sum assured and fund value. Mr. Amit Palta, Chief Distribution Officer, ICICI Prudential Life Insurance, said, “ICICI Pru Platinum, our Company’s first unit-linked product designed to make distributor payouts aligned to their customers fund value, promoting the long-term interests of both”.